Drive Wealth Management LLC Raises Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Drive Wealth Management LLC grew its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,382 shares of the financial services provider’s stock after buying an additional 49 shares during the period. Drive Wealth Management LLC’s holdings in Marsh & McLennan Companies were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMC. Ritholtz Wealth Management boosted its position in shares of Marsh & McLennan Companies by 0.6% in the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after purchasing an additional 51 shares during the period. Waldron Private Wealth LLC increased its stake in Marsh & McLennan Companies by 2.8% in the 2nd quarter. Waldron Private Wealth LLC now owns 3,193 shares of the financial services provider’s stock worth $673,000 after buying an additional 87 shares in the last quarter. Summit Financial LLC raised its holdings in Marsh & McLennan Companies by 72.4% during the second quarter. Summit Financial LLC now owns 12,398 shares of the financial services provider’s stock valued at $2,612,000 after acquiring an additional 5,206 shares during the period. Essex Financial Services Inc. lifted its position in shares of Marsh & McLennan Companies by 173.3% in the second quarter. Essex Financial Services Inc. now owns 6,769 shares of the financial services provider’s stock valued at $1,426,000 after acquiring an additional 4,292 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its position in shares of Marsh & McLennan Companies by 9.7% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 1,802 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 159 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Price Performance

Shares of Marsh & McLennan Companies stock opened at $227.51 on Monday. The stock has a 50 day moving average price of $218.71 and a 200-day moving average price of $209.65. Marsh & McLennan Companies, Inc. has a one year low of $184.02 and a one year high of $228.47. The stock has a market cap of $112.10 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 3.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.17 and a current ratio of 1.17.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.01. The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 8.74 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $0.815 dividend. The ex-dividend date was Thursday, July 25th. This represents a $3.26 annualized dividend and a yield of 1.43%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 41.37%.

Analyst Ratings Changes

Several research analysts have weighed in on MMC shares. Roth Mkm upped their price target on Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada increased their price objective on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Finally, Bank of America lifted their target price on Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $214.25.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the sale, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $11,159,670.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Oscar Fanjul sold 6,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $209.01, for a total value of $1,254,060.00. Following the transaction, the director now directly owns 53,393 shares in the company, valued at $11,159,670.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at $7,625,035.98. The disclosure for this sale can be found here. Insiders sold 27,735 shares of company stock worth $6,151,377 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.